Lost Your Job? 10 Things You Must Do

Losing a job is not the end of the world, says Manisha Sachdev, head of learning and development at the ITM Group of Institutions.

‘I am one of the many other people who faced the wrath of the pandemic in my professional career.

‘I lost my job six months ago and life has not been the same since then.

‘Being the sole earning member in my family, I am now broke and equally shattered.

‘I need to get a job soon in order to make ends meet. I have 13 years of experience in Sales in the FMCG sector. Please contact me on 989XXXXX21 or [email protected] for any opportunities that you may have or come across.’

Do you also have a similar story to tell?

Such posts have been popping up on almost all social media platforms since the beginning of the pandemic!

Dear All,

People are losing their jobs and there is distress and uncertainty all around.

Apart from financial stress, loss of one’s job brings along anxiety for the future, an overall challenging emotional health and puts a question mark on one’s self-esteem and identity.

While you may not have control over the retention or loss of your job, you certainly have control over the way you react to these situations.

You’ll be able to move forward, only when you know how to deal with a setback. Job loss can be daunting but it is not forever.

Follow these 10 commandments if you:

  • Have lost your job recently
  • Need survival tactics post job loss
  • Want to improve your chances of bouncing back with results

1. Stay positive and restrain catastrophic thoughts:

While sipping your cup of coffee, do you make these statements to yourself?

I am not worth anything.

I could not secure my job.

Probably, I’ll never get a decent job and will have to compromise on underpaying jobs.

What if all my savings get over before I land up a new job?

Always remember job loss doesn’t define you. Your previous work and achievements still count, as they used to earlier. Believe that you are still the same successful and skillful person that you were.

Just like we CTRL + Z an error on our laptop and start again, take command of your brain, heart and soul and press escape for all the negativity.

Remember, every cloud has a silver lining.

2. Relook your expenses and funds

Your income has a direct impact on your lifestyle and a job loss can definitely make it difficult to beat your lifestyle inflation.

Now that we know that these unprecedented times are here to stay for a while, we can never be too late to plan.

Cut down your non-essential expenses to a minimum.

Prioritise your essential outflows.

It is just a matter of time that you’ll have full control over your expenses and available funds. Remember, emergencies do not knock twice.

3. Create additional sources of income

You can make money while you sleep. Yes, you read that right. This is the time when you put your thinking hats on and come up with ideas that can help you earn those much needed extra bucks.

We are talking about passive money. Losing a job closes one door, but we can always look at the other doors that might look locked but aren’t.

For example: If you have a car you can tie up with companies dealing in rental car services or if you are a financial advisor, then why not help others earn the moolah while you work for them on a freelance basis?

As the income generates passively, you keep going with limited funds while making space for active income.

Freelancing is a highly opted step for new/additional income generation. It is an excellent way of making money online with minimum resources.

There are many freelance Web sites like Upwork, Fiverr, Freelancer, Toptal, PeoplePerHour, Simply Hired, to name a few. Web sites such as writingcreek.com are good platforms to earn money by content writing.

You can also take up contractual assignments and internships. They keep you working, help networking and generate income. These assignments can also result in full time employment sometimes. All these are definitely worth a try.

4. Encash your skills

All the years while you were on the job, you must have equipped yourself with skills in demand.

Every skill you have will remain useless unless you apply it. You need to know how to get your expertise into the market and let clients see how you can help them and solve their problems. Now is the time to encash those skills on your terms. The skills can be:

  • Hard or soft
  • Technical or clerical
  • Creative or objective.

Decide your target customers who can give optimum value for your skills. For example, if you are an MS Excel pro, create a Youtube channel and promote your expertise.

This move can immensely help you:

  • Encash your skills
  • Get noticed by startups, students, freshers
  • Get additional projects on contractual basis.

5. Capitalise on your hobbies

Often in the haste of making money, people let their hobbies take a back seat.

The loss of a job causes emotional disturbances along with financial losses and future uncertainties.

Pursuing hobbies can be a solution to both the problems. It brings along happiness balancing emotions and if strategised properly it can fetch money to reduce your financial burden.

For example, if playing chess is your hobby, you can coach novice players or sell tutorials on how to make winning moves in chess. It is that simple!

6. Creating a professional LinkedIn profile

LinkedIn is designed for professionals to allow users to create an online profile that represents their employment history and skill-set.

One can:

  • Find jobs and business opportunities
  • Network with professionals who can recommend you to their colleagues
  • Gain insights into your industry.
  • Create a personal brand for yourself

LinkedIn is probably the most popular professional networking site these days.

An updated all-star profile and active presence on the platform can actually cut short your hunt for the right job opportunities.

7. Improve your job search methodology

Ask yourself these questions before beginning your job search:

  • Have I recently updated my profile on job portals?
  • Is my resume ATS proof?
  • Does my cover letter showcase my suitability and strengths to the recruited?

If the answer to the above three questions is a BIG FAT NO then it’s high time to strategise your job search process.

8. Express yourself creatively

For many people, their job is what defines them. The loss of employment subsides their identity.

In such a situation it becomes imperative to express oneself creatively about what they do professionally (wherever possible).

Blogging, content writing and vlogging can help you express yourself and make your creative presence felt, both personally and professionally.

9. Change perspective to define your situation:

Remember the story of Steve Jobs, who was kicked from his own company.

In many of his speeches later he mentioned that it was one of the best things that ever happened to him.

Why do you think Jobs said that?

Losing a job is not the end of the world. It may be the beginning of some new and more fruitful chapters of your life.

Starting afresh in a new domain or with a new employer or opting for entrepreneurship can be the brighter side of a job loss.

Avoid blaming the situation and try to find the best in the worst.

10. Learn, Unlearn and Relearn

Sometimes you have to let go to allow better things to come into your life.

Reskilling and upskilling is the key to improve your chances to bounce back after a job loss.

Equip yourself with new skills that do not shell much money out of your pocket and at the same time lands you a better job. Rightly put forward: Learn, Unlearn and Relearn.

You can seek help and guidance from your ex-colleagues, extended network, freelancers and career coaches.

Remember, life is uncertain and the wheels of fortune go round and round. Your job alone doesn’t define who you are.

Your family, hobbies, passion and dreams are a culmination of you.

Don’t let one aspect steal the spotlight from YOU. Remember you have infinite possibilities.

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